Taylor Wessing advises Brawn GP

For more information or to speak to Russell Van Praagh, please contact Helen Needham at Taylor Wessing:

Tel:       +44 (0)20 7300 4156
Email 

Lawyers

Taylor Wessing has advised Brawn GP Ltd (Brawn GP F1 Team) on the recent acquisition by the parent company of Mercedes Benz, Daimler AG, and the Abu Dhabi based investment company, Aabar Investments PJSC, of a 75.1% stake in the company. The deal will also ultimately see Mercedes end their 14-year relationship with McLaren in favour of Brawn GP. Mercedes will continue to supply engines to Brawn GP and the existing management team led by Ross Brawn will remain.

Under the direction and leadership of Brawn GP’s Legal Director, Caroline McGrory, Partner Russell Van Praagh led the external multi-disciplinary Taylor Wessing team which advised Brawn GP on all aspects of this complex deal, including corporate, tax, competition, intellectual property, employment and pension law elements. Other lawyers who played significant roles on the transaction included Peter Jackson (Partner and head of tax), Max Remington-Hobbs (Associate, corporate), Anna Johnson (Associate, tax) and Martin Baker (Partner, competition).

Earlier this year, a Taylor Wessing team, also led by Russell Van Praagh, advised on the management buyout of Honda Racing F1 Team to create Brawn GP.

Commenting, Legal Director of the team, Caroline McGrory:

“The deal is an exciting development for Brawn GP and for Formula 1 and provides the team with a secure and exciting future enabling us to challenge for further Championship successes. I would like to thank the Taylor Wessing team for their hard work in getting this deal done.”

Russell Van Praagh, partner, Taylor Wessing added:

We are delighted to have once again helped Brawn GP navigate their way through a challenging and high-profile deal. This deal proves that, despite the recession, significant investors still see value in Formula 1. I wish the team every success in the future".

Ends